10 Stocks Under $10 that Will Triple

6. Nuvation Bio Inc. (NYSE:NUVB)

Upside Potential: 301.02%

Number Of Hedge Funds: 34

Nuvation Bio Inc. (NYSE:NUVB), a clinical-stage biopharma company, develops innovative cancer treatments. The company’s lead drug, a ROS1 inhibitor taletrectinib, targets ROS1-positive lung cancer. Simultaneously, Nuvation is also extending its portfolio with safusidenib, which is a targeted inhibitor for brain tumors with IDH1 mutations, and NUV-1511, a drug-drug conjugate for advanced solid tumors.

Nuvation Bio Inc. (NYSE:NUVB) ensured robust financial health with $502.7 million in cash, cash equivalents, and marketable securities as of December 31, 2024. R&D spending hit $29.3 million in Q4 2024, reflecting a cost increase from the acquisition of AnHeart Therapeutics and ongoing clinical trials. On the other hand, selling, general, and administrative expenses rose to $26.1 million due to integration efforts and commercialization preparations, resulting in a net quarterly loss of $49.4 million or $0.15 per share.

Despite the troubled profitability, Nuvation Bio Inc. (NYSE:NUVB) turned a major cornerstone when the FDA granted a Priority Review to its New Drug Application (NDA) for taletrectinib, with a PDUFA goal date set for June 23, 2025. The drug already got regulatory approval in China, with sales handled by Innovent Biologics. In addition, the company also submitted a Marketing Authorization Application (MAA) in Japan. In the U.S., the company launched an Expanded Access Program for taletrectinib so that eligible patients can receive the drug before commercialization.

With substantial cash reserves and access to $250 million in non-dilutive financing from Sagard Healthcare Partners, Nuvation Bio Inc. (NYSE:NUVB) has the cash reserves to commercialize its drugs and develop new ones. As taletrectinib enters the U.S. market and the company’s cancer pipeline grows, it is positioned as one of the stocks under $10 that will triple. The company has a high potential for growth once it gets regulatory approval and successful commercialization of its drugs.